Our Current Action On Overdue SMSF Annual Returns

We are taking a tougher stance on SMSFs that have overdue self-managed super fund (SMSF) annual returns, particularly those who have two or more returns overdue.

Our current actions include:

  • cancelling approximately 9,000 ABNs of SMSFs that show no evidence of operating

  • visiting selected tax agents to obtain feedback on why their SMSF clients' lodgments are overdue

  • contacting tax agents by phone to obtain an agreed date for lodgment of overdue SMSF annual returns

  • writing to SMSF trustees who are in pension phase to remind them that they still have a lodgment obligation

  • continuing our attention on SMSFs with high levels of income and/or high-value assets who also have overdue returns

  • taking further compliance and audit action on selected SMSFs.

While trustees are responsible for their SMSF, tax agents also play a key role in supporting SMSFs to meet their obligations and avoid incurring penalties or the loss of tax concessions.

SMSFs that don’t meet the agreed lodgment timeframes will be subject to serious financial implications.

Australian Government

Australian Taxation Office

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